Are You Up to Date on FACTA & Your Obligations?

On August 13th, 2019, posted in: SAFESHRED News by

Data security has become a prime concern for many Americans and businesses alike. With California filing the third highest number of identity theft complaints of any US state per capita, it’s clear that data security is a real issue which has held fairly steadily over the past few years; despite new advancements in data security technology and practices.

Thankfully, governments at both the state and federal level have worked to act and try to reduce the risks for consumers and organizations across the country. With many different pieces of legislation being crafted for various industries with different information needs, one piece of legislation stands out as impacting nearly all US businesses and consumers.

 

A Brief Look at the History of FACTA

Signed into law in late 2003, The Fair and Accurate Transactions Act (FACTA) was put together by federal lawmakers as an amendment to the Fair Credit Reporting Act. It was crafted with the goal of helping consumers to protect their personal information, and to hold organizations and users of consumer data who fail to protect it, accountable. The act applies to nearly all consumers and organizations in and across the US.

 

What do Businesses and Consumers Need to do?

FACTA requires organizations that maintain and use consumer information to take reasonable measures to protect the data of both consumers and employees. This includes making sure that sensitive data is properly disposed of through the right channels, and with methods that ensure that information can’t make it into the wrong hands. Consumer information can refer to things like:

  • Drivers licenses
  • Phone number
  • Email address
  • Physical address
  • Social security numbers

 

Professional Shredding Services Offer a Solution

Document shredding has come to be a proven method for the secure disposal of physical and electronic information. When done professionally and with the right equipment, shredding services ensure that information stored on paper documents and hard drives is virtually non-recoverable, and permanently destroyed.

FACTA requires impacted organizations to take “reasonable measures” to ensure such information does not fall into the wrong hands. Reasonable measures have come to include burning, pulverizing or shredding of paper documents. Contracting a document destruction professional also qualifies and is highly encouraged.

 

Let Our Team Help Your Organization Comply with FACTA Rules and Regulations

SAFESHRED maintains the team, equipment and experience needed to ensure that the job is done to the highest quality. No matter whether you prefer on-site or drop-off services, regular or one-off, paper or hard drive; we can do it all.

No matter the job size, our team can take care of it! Talk to us today to find out more about our shredding services and service region.

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